If you choose to use our services, here is a sample outline of how we will work together to sell your property:
- For $500, we will sign a listing agreement from date of listing until the end of the calendar year. Legally, we will be representing you as a Transaction Licensee.* If your property does not sell within the initial listing period, we will extend it to the end of the next calendar year at no charge. This fee is paid up-front and is non-refundable, unless of course we fail to do what we promise. In addition, we charge an additional $195.00 broker fee at settlement when the property closes.
- If you don't know how much to ask for your property, we will prepare a professional "comparative market analysis" showing you what sale price similar properties have recently achieved for an additional fee of $75.
- You decide how much commission to offer an agent who brings you a buyer. We recommend 2.5 to 3% so that your home is on an equal footing with most other listed properties; however, you may choose to offer a flat dollar amount or no commission at all (in which case the buyers would have to pay their own agent.)
- If you find a buyer on your own, you do not have to pay any additional commission.
- If a Realty Five Hundred (or our affiliate Well Done Realty) agent brings you a buyer, you would pay that agent the same commission as you would pay an agent from another company.
- You fill out an information sheet on your property (and other legally-required documents such as a Seller Disclosure) and send us up to 20 photos, either yours or by a professional photographer (recommended).
- We will mail (or deliver) a "for sale" Realty Five Hundred yard sign and a combination lockbox. If you wish, you may write your phone number on the sign (so calls go to you) or you may put our office number on the sign. Alternatively, you may also put up your own "For Sale By Owner" sign. Using a sign is optional, but it is an effective method of marketing and helps buyers locate your property.
- Our office, or an appointment scheduling service, will contact you to make appointments for buyers to see your home. If you cannot be home to let buyers in, you may give them the combination to the lockbox (for security, recommended only for buyers accompanied by a licensed real estate agent).
- If you want to have an "open house" we will publicize it for you on Zillow, Trulia and realtor.com (as available) and on the local MLS open house websites. However, you (or a friend) must act as host. We will provide you with a suggestions for what to do.
- You may make changes (example: price change), suspend or cancel your listing at any time, provided your property is not in negotiation with a buyer's agent or under contract. Just let us know.
- When you get an offer from a buyer we will forward it to you (or you may send us a copy) and we will go over it with you on the phone (optional). We will explain the terms of the offer to you, but we are not permitted to give your our opinion of the offer or advise you of how to respond to the offer. If you need additional forms to prepare a counter-offer, we will provide them.
- You negotiate the contract directly with the buyer or buyer's agent.
- When you have a final agreement, you will coordinate with the buyer to take the transaction to settlement. Typically this includes providing access for inspections, making necessary repairs, and scheduling the settlement date. The settlement company (typically selected by the buyer) will do all of the technical work on behalf of both parties.
- If you choose our representation service, we will perform steps #12 and #13 on your behalf for a fee of 1% of the sale price (minimum $1,200), payable at settlement. You will need to sign an additional document which establishes that we are now acting as your full agent. This allows us to advise you on the terms of the contract, suggest how to respond to an offer, and take other actions on your behalf to bring the transaction to settlement. Note that you may choose the 1% representation service at any time, and are not obligated to pay until your property is sold.
- After your successful settlement, you will want to tell your family and friends that Realty Five Hundred is the smart choice to sell your home!
* For further information about real estate agency relationships, see http://www.dos.pa.gov/professionallicensing/boardscommissions/realestatecommission/documents/board%20documents/written%20consumer%20notice.pdf